RBC Capital downgraded British American Tobacco (BTI) to Underperform from Sector Perform with a price target of 34,003 GBp, up from 3,000 GBp. The firm says profit expectations for British American’s new categories are “seriously overblown.” RBC expects a lack of scale in the individual categories.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on BTI:
- British American Tobacco announces CFO Benchikh to step down from role
- FDA denies marketing for blu disposable e-cigarette
- Cautious Outlook on British American Tobacco Amid Market Challenges and Preference for Imperial Brands
- British American Tobacco price target raised to $40 from $35.50 at Morgan Stanley
- British American Tobacco price target raised to 3,300 GBp from 2,800 GBp at JPMorgan